Lendlease developed the area in 2019 and is a mix of 1500 apartments,26,000 square metres of commercial office space,12,000 square metres of retail community and leisure areas.
The new store will target consumers who crave interactive and experience-based retail and like to be entertained while shopping.
Scentre,which owns and runs the Westfield shopping centres,is adding experiences such as Disney pop-ups,Barbie fan events and live music to defy the cost-of-living crunch.
Visitors to the retail property group’s sites,including Melbourne’s Chadstone,climbed more than a third following a recovery in tourism and as more workers returned to the office.
New “fur babies” and sprucing up the car have also helped underpin sales for retailers that make up the big box-style homemaker centres.
A supply shortage plus increasing demand for freestanding,defensive commercial property assets is supporting high prices.
Global retailer adidas has flung open the doors to its first flagship store in Australia in the heart of the Sydney city to cater for the huge growth in all things active that also leans into wellness and lifestyle retailing.
Retail landlord Vicinity Centres has stepped up its asset sale program with the divestment of a half share of the just-opened Broadmeadows Central mall in Melbourne to Nikos Property Group for $134.5 million,with the proceeds going to repay debt.
Despite a fall in vacancy rates across the city,agents say the upheaval of the pandemic wreaked havoc on some of Melbourne’s main strips.
In a move that significantly changed Victorian Government policy on planning and development,the Planning Minister,Mr Rob Maclellan,approved shopping centre developments worth about $500 million across Melbourne.
The factory,with its distinctive rooftop steel ball-shaped tank,has been a Warrnambool landmark for more than a generation.